Victory Capital Management Inc. Sells 4,050 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Victory Capital Management Inc. reduced its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,600 shares of the industrial products company’s stock after selling 4,050 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Columbus McKinnon worth $1,057,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rhumbline Advisers raised its stake in Columbus McKinnon by 2.0% during the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after acquiring an additional 911 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Columbus McKinnon during the 2nd quarter valued at approximately $73,000. Hantz Financial Services Inc. acquired a new position in Columbus McKinnon during the 2nd quarter worth approximately $1,405,000. GoalVest Advisory LLC increased its position in Columbus McKinnon by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock worth $682,000 after purchasing an additional 600 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Columbus McKinnon in the 2nd quarter valued at approximately $41,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CMCO. JPMorgan Chase & Co. began coverage on shares of Columbus McKinnon in a research note on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price on the stock. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Stock Down 3.1 %

Shares of NASDAQ CMCO opened at $32.31 on Friday. The company has a 50 day simple moving average of $34.02 and a 200 day simple moving average of $38.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20. Columbus McKinnon Co. has a 1 year low of $29.26 and a 1 year high of $45.84. The firm has a market cap of $932.43 million, a PE ratio of 19.94 and a beta of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $239.73 million during the quarter, compared to the consensus estimate of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. On average, research analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.